We are about to see the monetary power of the U.S. government

[Jeezy911]

Expect a price jump when stimulus checks start rolling in. I know I'm personally buying some crypto anyone else feel the same way?

[figmentofmyass]

Expect a price jump when stimulus checks start rolling in. I know I'm personally buying some crypto anyone else feel the same way?

people will do what they normally do with stimulus checks: those who don't need it will put it in the bank for a rainy day. those who do need it will immediately spend it on rent/mortgage, food, supplies, and paying bills.

i'm sure there is a very small minority like you who will spend their stimulus checks on bitcoin, but i doubt they will outweigh those investors who are currently selling because of the economic crisis. the pandemic has been horrible for bitcoin investors and the stimulus checks don't do much to alleviate that.

the stimulus check barely makes a dent in my monthly expenses. for me, it's not even enough to bother sending to a bitcoin exchange. it's a tiny emergency cushion in my bank account during uncertain times, nothing more. i already have enough bitcoin tucked away in case it miraculously emerges into a bull market.

[davis196]

Expect a price jump when stimulus checks start rolling in. I know I'm personally buying some crypto anyone else feel the same way?

So we all have to rely on the mercy of the Federal reserve to print some money and  pump the price of Bitcoin?
I thought that Bitcoin is supposed to be independent from any central bank in the world.This is what Satoshi Nakamoto told us,but now 90% of all Bitcoin users only care about the BTC price(which is normal,but sometimes it looks absurd to me).
The stimulus package might pump the BTC price,but probably after a year or two.The global economy has to recover from the lockdowns first.

[stompix]

Expect a price jump when stimulus checks start rolling in. I know I'm personally buying some crypto anyone else feel the same way?

1 200$ per citizen and in a lot of cases less than that and sometimes none?
Nope, there won't be a jump because of that, 1 200$ might be much by third-world standards, but in most countries, it's nothing that would trigger an urge to invest, just as figmentofmyass said. Those that have lost their job are losing much more than 1200$, they won't gamble that money, the ones that afford to throw away that could have invested a long time ago with no stimulus check.

Nope, this helicopter money will not make a dent in the price, but if we get through all this corona shit not that badly scratched and everything is back to normal in two months, then we will have a serious growth. Remember that in order to invest in something people need to have sufficient money and not be riddled with questions and thoughts about unemployment, disease, and death, nobody invests in something because he is jobless and his family is sick!

[alexeev.tosha0109@yandex.]

Expect a price jump when stimulus checks start rolling in. I know I'm personally buying some crypto anyone else feel the same way?

Price jump will likely happen, I'm sure it's inevitable. But it won't be like unexpected hyperinflation.

[bits4books]

While you are buying a BTC printer is doing "brrrrr"
Who would  win - crypto users or "heh money brrrrr"-boomers?

[hugeblack]

All the solutions that have been taken are plans to stimulate and revive the crash caused by the Corona pandemic, so we may see more fluctuations in prices.
Therefore, stimulus checks will not change in prices because until now we face a health crisis, not an economic one^*.

Generally, there are some extreme theories that say that it is the best time to invest in anything you trust in it’s future, but I recommend you to be less extreme.

* This may change if a global recession occurs.

[o_e_l_e_o]

Last year it was "Institutional Investors". The year before it was "Wall Street Bonuses". Before that it was "Chinese New Year" or some other nonsense. Are "Stimulus Checks" going to be the big fat nothing-burger for this year? Very few people are going to spend their stimulus checks on bitcoin. Most need to spend it on necessities. The ones with a steady income through this mess probably have far more excess income from a complete shutdown of their social lives - no restaurants, no eating out, no bars, no clubs, no vacations, no travel, no shopping for non-essential goods, etc. - than they would from a stimulus check.

* This may change if a global recession occurs.

It's not a case of if, but when. In fact, there have been quite a lot of rumblings over the last 48 hours that we are already in a recession. The chairman of the Fed said as much regarding the US a couple of days ago. The IMF Managing Director said today that we are in a global recession.

[tomahawk9]

Expect a price jump when stimulus checks start rolling in.

A pump in the btc price? Hopefully, but i find it unlikely to happen.

Either people will use that money to buy and stock up food and toilet paper, or they'll put it in stocks. Seriously, all I see in forums, social media, discord/tg channels is people encouraging others to invest in stocks...smh :/

[abhiseshakana]

Recessions are usually defined by negative Gross Domestic Product growth in two consecutive quarters and many believe the US has entered that condition. This condition does not only occur in the United States but also in almost all countries that are grappling with the corona pandemic.

The stimulus package provided to the public will not be too influential because it will be used as consumption rather than investment. 2020 is a bleak year, a year full of uncertainty and a year of economic downtrend. With a gloomy business situation, do entrepreneurs and investors have to be bleak and pessimistic?

No way, in this condition investors, should think paradox or anti-mainstream thinking & think out of the box if necessary no box because the situation is extraordinary. For example, if other entrepreneurs focus on cost reduction due to uncertain situations, we can focus on growth. If others wait and see we must be pro-active in responding to the market, due to the quiet market momentum from competitors. It's time to start building a business.

[webtricks]

Expect a price jump when stimulus checks start rolling in. I know I'm personally buying some crypto anyone else feel the same way?

So we all have to rely on the mercy of the Federal reserve to print some money and  pump the price of Bitcoin?
I thought that Bitcoin is supposed to be independent from any central bank in the world.This is what Satoshi Nakamoto told us,but now 90% of all Bitcoin users only care about the BTC price(which is normal,but sometimes it looks absurd to me).
The stimulus package might pump the BTC price,but probably after a year or two.The global economy has to recover from the lockdowns first.

You are right. Let me add another dimension to your answer:

There is a difference between price and value.

Price of Bitcoin depends upon the currency in which we are determining the price of Bitcoin. Most popular determinant of Bitcoin's price is US Dollar. It is a simple economic concept that if the quantity of base determinant (USD) increases, the price of provided commodity (Bitcoin) will increase. ^[1]

Even if price of Bitcoin increases, it doesn't mean its value is increasing too. It may rise because of the fall in the value counter determinant (USD) ( as discussed in ^[1]). Hence we all should focus more on increasing the value of Bitcoin, price will rise automatically.

[semobo]

As most others said,most of the people are not going to spend their checks for their investment purpose when they are in emergency situation especially when the unemployment rate spiked historically but if you have the opportunity/ability to invest that check on bitcoin then don't hesitate to spend it.

[betty11]

It's Crypto traders that will still buy cryptocurrency with the stimulus cheque, some will look for bear and have fund. The wise ones should save the cash in a valuable good investment in other to have some financial power in the future should there be inflation as a result of mad printing of money.

[exstasie]

Last year it was "Institutional Investors". The year before it was "Wall Street Bonuses". Before that it was "Chinese New Year" or some other nonsense. Are "Stimulus Checks" going to be the big fat nothing-burger for this year?

Don't forget "tax refund season!" This year, bulls are packing their hopium pipes with the idea that tax refunds and stimulus checks combined will send BTC to the moon.

It's not a case of if, but when. In fact, there have been quite a lot of rumblings over the last 48 hours that we are already in a recession. The chairman of the Fed said as much regarding the US a couple of days ago.

There's no doubt at this point. Double digit contractions are basically set in stone. If we haven't officially entered a recession, it will hit hard in Q2. The epidemic response in the US was worse than anything I ever imagined, and the infectiousness of COVID-19 appears much worse than initially indicated. By all appearances, it was already extremely widespread in the US weeks ago but lack of testing prevented any effective action.

The CDC and Trump administration should be tarred and feathered after this. They have persistently promoted disinformation that has greatly intensified the US epidemic, and there was zero coordination or disaster preparedness at the federal level. I was previously operating under the assumption the US government would have mounted a real epidemic response but we've only seen the opposite. So while we did get the significant relief rally in stocks I was expecting, the mid-term market outlook is looking markedly worse than a couple weeks ago. I'm no longer confident this is another 1987 crash.

[o_e_l_e_o]

By all appearances, it was already extremely widespread in the US weeks ago but lack of testing prevented any effective action.

I suspect that currently it is still much more widespread than we think, and as and when testing scales up in near future, the number of confirmed cases will continue to increase drastically. Still, a more accurate stat to follow is the number of deaths, since this is independent of the number of tests being done or who those tests are being offered to.

They have persistently promoted disinformation that has greatly intensified the US epidemic

Trump has always been illiterate when it comes to science. Since he took office he's had enough advisors and staff around to keep his ridiculous views largely muted, but if you look back to things he said prior to taking office they are utterly stupid. He thinks vaccines cause autism. He called climate change a hoax by the Chinese designed to impact US manufacturing. He probably thought the same about coronavirus to begin with. Ironically, he was quicker to shout on Twitter about tough controls and stopping all flights for Ebola than he was for SARS-CoV-2, making it clear he didn't understand that either and was just looking for political point scoring.

and there was zero coordination or disaster preparedness at the federal level.

Trump shut down the National Security Council's pandemic unit and cut the CDC's funding. There was no preparation because there was no one there to prepare.

[fiulpro]

Funny thing , people are seeing how big of a liars they are , with the government openly saying they have millions of test kits in the market and the data by the source , it is hilarious how the president can lie in front of the whole crowd , how he cannot even assure his citizens , trust me his leadership will be written in the textbooks and he will be hated for years to come .

Monetary power ? I don't think so , the market is all set to fall very sharply.

[exstasie]

Trump shut down the National Security Council's pandemic unit and cut the CDC's funding. There was no preparation because there was no one there to prepare.

He got rid of the NSC directorate at the White House but there was still an apparatus for emergency response. The NIH, the CDC, etc. This is what Fauci said about that: https://apnews.com/ce014d94b64e98b7203b873e56f80e9a

“It would be nice if the office was still there,” Dr. Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases at the National Institute of Health, told Congress this week. “I wouldn’t necessarily characterize it as a mistake (to eliminate the unit). I would say we worked very well with that office.”

So I'm not focusing on that aspect too much. I also find it hard to believe the NSC is playing no role in the current crisis.

What I found most upsetting was Trump's CDC and Surgeon General actively telling people not to wear masks. Not only that but they were claiming they may actually help spread the disease, when we know the exact opposite is true from looking at Asian countries.

The FDA also should have approved point-of-care testing several weeks ago to achieve widespread sampling. This was probably another PR game by the Trump administration to publicly hide the extent of the epidemic. Every single chance at leadership, they failed miserably, and yet he is more popular than ever now: https://news.gallup.com/poll/298313/president-trump-job-approval-rating.aspx

[Wexnident]

No matter how high the stimulus check would give out, I doubt that people would invest it in the market. The government would probably feel pretty stupid if they saw how the money they gave out to be used for supplies to resolve the outbreak problem be used in investment that would probably take some time before producing results. Not to mention that those that would receive the full stimulus check would be those on the lower end of financial power, which in all honesty, are probably in dire need of funds with their main source of income currently being cut off because of the current lockdowns. There'd probably be a few out there who would invest, but the majority probably wouldn't

[Gozie51]

I don't think that the stimulus check will go along way to be reinvested into buying bitcoin. Bitcoin is how much now and how much will an individual be entitled to, to muscle the idea of investing in bitcoin ?
The stimulus will just help to sustain life and living, I don't expect it will be enough to go into investment to the extent that it will cause an impact on price.

[Febo]

We are about to see the monetary power of the U.S. governmentv
Expect a price jump when stimulus checks start rolling in. I know I'm personally buying some crypto anyone else feel the same way?

I am not sure. I believe all this stimulus is already priced in the price of Bitcoin. But maybe was so many news that influenced price lately that I might be wrong. Future price of Bitcoin is very unknown. It would be way more predictive without covid-19.